AT&T Faces $224 Million Lawsuit Over Alleged Cryptocurrency Heist

U.S. investor sues AT&T for $224 million over loss of cryptocurrency

In a 69-page complaint filed with the U.S. District Court in Los Angeles, Terpin alleged that on January 7, 2018, the tokens were stolen from him through what he alleged was a "digital identity theft" of his cellphone account. AT&T said that it disputes the allegations. In the beginning of January, when Terpin was stolen the tokens, most cryptocurrencies were trading close to their record highs.

The plaintiff is reportedly the co-founder of an angel group for Bitcoin investors known as BitAngels.He's also the founder of a cryptocurrency fund dubbed BitAngels/Dapps Fund.

In the court documents, Terpin accuses the company of doing "nothing" to protect almost 140 million customers from fraudulent activity, while pointing to a history of AT&T abusing customers' private information.

The filing claims that Terpin was the victim of a SIM swap fraud that was made possible by the negligence of AT&T.

According to the court documents, a total of three million digital tokens were taken from Terpin.

Terpin claims that a hacker was able to get ahold of his phone number, through which they were then able to access his cryptocurrency accounts. The lawsuit alleges that hackers convinced AT&T to transfer Terpin's cell phone account to a compromised SIM card under their control on two separate occasions. Today, Terpin is one of the Alphabit Fund's top advisers.

Former CIA Director John Brennan says Trump is trying to silence critics
Some Republicans praised the move, including Senator Rand Paul who said he "urged the president to do this". Brennan is a national security commentator for NBC and MSNBC . "By issuing such a statement , Mr.

Fortnite New LTM: Soaring 50's, Plus Sniper Shootout Changes
Grenades now properly grant progress for the Week 5 Challenge: "Deal damage to players with a Clinger, Stink Bomb, or Grenade". This new mode looks to try and offer a new twist of the 50 vs 50 mode and brings a huge emphasis on mobility.

First Lady Melania Trump Cannot Wait To Divorce 'Unhinged' Donald Trump
On MSNBC on Tuesday, Manigault-Newman said she was a whistle blower unveiling "corruption" within the Trump White House. Staffer Lynne Patton called Manigault Newman a "disgruntled employee" on "Anderson Cooper 360" Tuesday night.

Terpin now wants AT&T, which he considers the sole responsible party for the attack, to give him the $24 million back, as well as pay him an additional $200 million as punitive damages.

Whatever the outcome of Terpin's court case, it illustrates the dangers of keeping large amounts of digital assets anywhere but in properly secured cold storage.

On both occasions, the first Terpin knew of the hack was when his phone went dead.

SIM swap fraud became an issue more than six years ago and has become an increasing problem, particularly with the growing use of two-factor authentication with hackers often targeting specific individuals.

The case also highlighted a need for adequate custody services in the cryptocurrency industry. Others simply shirk the responsibility of being the sole participant responsible for the safety of their digital wealth.


  • United Kingdom  unemployment rate falls unexpectedly to 4.0% | 14 August 2018

    United Kingdom unemployment rate falls unexpectedly to 4.0% | 14 August 2018

    After increasing sharply during the financial crisis, the UK's unemployment rate has been rapidly dropping for nearly a decade. There are 1.36 million unemployed people (people not in work but seeking to work), 124,000 fewer than for a year earlier.
    China, US to resume trade talks in late August

    China, US to resume trade talks in late August

    China responded by threatening in early August to impose new tariffs on $60 billion worth of USA goods. The Trump administration started to impose last July 6 tariffs on $34 billion in Chinese imports.
    Intel Official:

    Intel Official: "Brennan's Actions are Unconscionable...Trump Did The Right Thing"

    The action prompted bipartisan rebukes and worries that Trump was willfully infringing on his critics' First Amendment rights. Comey and McCabe no longer have security clearances, according to their representatives.
  • Authorities Say 15 Overdosed In 45 Minutes At Connecticut Park

    Authorities Say 15 Overdosed In 45 Minutes At Connecticut Park

    The victims ranged in age; however, many are part of the homeless population in the city, police said. The case on Thursday was the latest in what turned out to be 76 overdoses on Wednesday.
    James Gunn Not Rehired for Guardians of the Galaxy Vol. 3

    James Gunn Not Rehired for Guardians of the Galaxy Vol. 3

    Marvel president Kevin Feige was traveling on Tuesday when the meeting was held, according to sources, so he wasn't able to join. That said, there is still no confirmation from Disney regarding the script, and with no director attached, much could change.
    Turkey slaps retaliatory tariff hikes on key United States  products

    Turkey slaps retaliatory tariff hikes on key United States products

    President Donald Trump authorised the implementation of higher tariffs on aluminium and steel imports from Turkey last Friday. Turkish officials say Qatar has pledged $15 billion of direct investments for Turkey as it struggles with a currency crisis.
  • Legendary singer Aretha Franklin has died

    Legendary singer Aretha Franklin has died

    A biography said that Franklin was "overwhelmed by fear and obsessed with control" and was afraid her fans would forget her. Her mother moved away when Franklin was just 6 years old, and died four years later from a heart attack.
    Gunmen attack intelligence service centre in Kabul

    Gunmen attack intelligence service centre in Kabul

    No group has claimed responsibility, but the bombing resembles previous attacks that have been claimed by ISIS . Both male and female students were studying at the center, preparing for entrance exams.
    Bitcoin (BTC) Dominance Rises 50.9% as Alts Slide

    Bitcoin (BTC) Dominance Rises 50.9% as Alts Slide

    As of 20:33 UTC, the digital coin is changing hands at $289.9, nearly 10% down on the day, according to Coins.Online data. U.S SEC declaring that Bitcoin is a commodity, ICE's announcement and a potential for a ( Bitcoin) ETF , amongst other.
  • La Liga plans matches in U.S.  to boost audiences in North America

    La Liga plans matches in U.S. to boost audiences in North America

    La Liga features two of the world's most profitable and popular teams in Barcelona and Real Madrid . La Liga have announced they will play at least one regular game a season in North America.
    US newsrooms to Trump: We're not enemies of the people

    US newsrooms to Trump: We're not enemies of the people

    President Donald Trump continued his war against the press on Thursday, blasting "the fake news media" as "the opposition party". It's unclear what he was calling for newspapers to prove, and Trump misrepresented sale prices for the Globe .
    State of emergency declared across B.C. as 566 fires burn

    State of emergency declared across B.C. as 566 fires burn

    Another 48 evacuation alerts means another 18,720 people should be prepared to evacuate at a moment's notice if the fires spread. The forecast is calling for more hot and dry conditions, with a risk of thunderstorms in some parts of the province.


Latest news

Aretha Franklin remembered as 'Queen of Soul' with 'special gifts'
She died Thursday at her Detroit home while under hospice care . "Our hearts go out to her family and her countless fans". In 1979, she received a star on the Hollywood Walk of Fame and had her voice declared a MI "natural resource" in 1985.

China goes big on currency printing contracts
The Ministry of Finance rubbished the reports claiming that a Chinese company has been given a contract to print Indian currency. With the sudden arrival of big orders ", China's largest currency paper mill in Baoding, Hebei province, sprang in to action.

Emery tells Arsenal players they're TOO FAT
Allardyce claims that the blame lies exclusively with the manager, who he believes sent his team out with the wrong message. The frontline selection is what is likely to give him the most problems with so many quality players at disposal.

China's radio heliograph may cooperate with NASA's spacecraft in solar observation: scientist
In addition, the low density of the plasma in the solar corona means a relatively small amount of heat will transfer to the probe. Once it reaches space, the craft needs to drop 53000 miles per hour of sideways motion to skim the sun's atmosphere.

Russia Rejects US Sanctions against its Country, Turkey
Sanctions imposed by the U.S. on Turkey are shattering the US' reputation, warned Turkey's Foreign Minister Cavusoglu on Tuesday. Another stumbling block in bilateral relations is the arrest of American pastor Andrew Brunson in Turkey.

Ireland climb in latest Federation Internationale de Football Association rankings as England shoot above Spain
Northern Ireland are 27th under the new rankings system, while England's World Cup run has seen them climb to sixth place. Nigeria, Africa's other representatives at the World Cup, lost just a single place after their one win and two defeats.

Qatar pledges $15bn of direct investments in Turkey - Ankara
Measures to restrict the amount of currency that can be exchanged with foreign banks were also said to be boosting the currency. Sanders said Brunson's release would not lead to an easing in the tariffs, but that it could lead to an easing in sanctions.

Women accused of killing Kim Jong Nam could be freed
Siti Aisyah and Doan Thi Huong are charged with the murder of Kim Jong-nam, half-brother of the North Korean dictator. Pyongyang has denied accusations by South Korean and US officials that Kim Jong Un's regime was behind the killing.

'Cautious scepticism' urged over e-cigarette safety
Previous studies have focused on the chemical make-up of e-cigarette liquid before it is vaped, the researchers said. It believed that e-cigarettes can help one overcome the habit of smoking and should be allowed on prescription.

Turkey aims new tariffs at US as court rejects pastor's appeal
The value of U.S. dollar on Wednesday, declined by 43 paisas against Pakistani rupee, in interbank market. Spot gold XAU= fell to an 18-month low of $1,186.70 an ounce, having declined 1.9 percent this week.

IPhone X-like Motorola P30 gets official in China, and it's cheap
On the front, the device offers a 6.2-inch IPS display with Full HD+ (2246 × 1080 pixels) resolution and 19:9 aspect ratio. The phone also highlights a dual rear camera setup, face unlock and some AI smarts, among other things.

Best of 'Hard Knocks': What Browns said to Antonio Callaway
Offensive coordinator Todd Haley was in Coleman's ear, telling him to stay in routes longer and, essentially, to compete harder. When Hue tells him to talk with Haley, Coleman says if the Browns don't want to play him, they should just trade him.

35 killed in Italy motorway bridge collapse
Italy's government said it meant to revoke the company's contract and hit it with a fine of 150 million euros ($170 million). In its design, Morandi used a patented prestressed reinforced concrete technology, which later proved problematic.

More than two dozen overdose around downtown CT park
Their symptoms included vomiting, hallucinations, high blood pressure , shallow breathing and unconsciousness, ABC News reported. The CDC said a record 72,000 Americans died past year because of drug overdose - about 10 percent higher than previous figures.

Trump signs defence policy bill with watered-down China measures
The mandate to produce a study came after an earlier version proposed to bar the delivery of F-35s to Turkey. Amid ruptured US-Turkey diplomatic ties, the US has put on hold the sale of F-35 fighter jets to Ankara.

Other news